DeHeng Again Advised ABC International 

on USD 800 Million Dual-Tranche Bond Issuance

2021-09-03

ABC International Holdings Limited, through its subsidiary, issued USD 800 million of dual-tranche bonds (including a three-year USD 500 million bond and a five-year USD 300 million bond) in August 2021.

This was the second USD-denominated bond issued by ABC International with its own rating. The coupon rate was 1.10% for the 3-year term and 1.60% for the 5-year, respectively. The bonds were warmly subscribed by a large number of well-known investors, with a record-low interest spread for Chinese-funded overseas investment banks.

As the Chinese legal counsel for the underwriter, the DeHeng team, led by partner Hou Zhiwei, with primary support from Zhang Yan, Wen Bin, Wang Jing, Hu Xueyuan, Xianyu Jiashan, Sun Yuehao, Jiang Yue and Sha Fei, provided whole-process legal services for the issuance.